The amount the insured is responsible for before insurance pays a covered claim.
Why it matters
Deductibles affect claim economics and out-of-pocket cost.
Example
A $2,500 deductible means the first $2,500 is generally your responsibility.
Common mistake
Assuming every peril has the same deductible.
Related terms
wind-deductible;percentage-deductible
Definitions are educational summaries. The policy's definitions and applicable law control a specific claim or coverage question.